Ukraine could save 200 billion hryvnias ($5.45 billion) for priority needs by delaying repayment of its external debt, Prime Minister Denys Shmyhal said Tuesday.
Ukraine has filed a formal request to request holders of its international bonds for a two-year debt freeze on most of its bonds and gives creditors until August 9 to vote on the proposal.
Shmyhal also said the Ukrainian government had approved a request to the US government for a “gas loan lease” scheme to help Ukraine through what it believes would be the toughest heating season in its history.
Yuriy Vitrenko, chief executive of Ukraine’s state-owned oil and gas company Naftogaz, said last week that the company was working with the government to raise $8 billion in funds to buy an additional 4 billion cubic meters (bcm) of gas needed for the 2022/23 Ukrainian heating season.
Vitrenko said on July 18 that Ukraine currently had reserves of 11.5 bcm and had secured financing for imports to get reserves up to 15 bcm, but the government had set a higher target of 19 bcm because of Russia’s invasion of Ukraine.
($1 = 36,7000 hryvnias)